MMM Ponzi Scheme (Dangers & Benefits)

What is MMM

[According to wikipedia],The meaning of mmm – МММ was a Russian company that perpetrated one of the world’s largest Ponzi schemes of all time, in the 1990s.

MMM was established in 1989 by Sergei Mavrodi, his brother Vyacheslav Mavrodi, and Olga Melnikova. The name of the company was taken

from the first letters of the three founders’ surnames.

Initially, the company imported computers and office equipment. In January 1992, tax police accused MMM of tax evasion, leading to the collapse of MMM-bank, andcausing the company to have difficulty obtaining financing to support its operations. Faced with difficulties in funding its foreign trade, the company switched to the financial sector. It offered American stocks to Russian investors, but met with little success. Later, MMM-Invest was created for the purpose of collecting vouchers during privatisation. This effort was similarly unsuccessful.

MMM created its successful Ponzi scheme in 1994. The company started attracting money from private investors, promising annual returns of up to one thousand percent. It is unclear whether a Ponzi scheme was Mavrodi’s initial intention, inasmuch as such extravagant returns might have been possible during the Russian hyperinflation in such commerce as import-export.

MMM grew rapidly. In February 1994, the company reported dividends of 1,000%, and started an aggressive TV ad campaign. Since the shares were not quoted on any stock exchange and the company itself determined the share price, it maintained a steady price growth of thousands of percent annually, leading the public to believe its shares were a safe and profitable investment

Mavrodi was found and arrested in 2003. While in custody, Mavrodi was given until January 31, 2006 to read the documents in his fraud case against him (The criminal case consisted of 650 volumes, each 250-270 pages long). At the end of April 2007, Mavrodi was convicted of fraud, and given a sentence of four and a half years. Since he had already spent over four years in custody, he was released less than a month later, on May 22, 2007. He later went on to creating yet another pyramid scheme called MMM-2011.

The MMM scandal led to increased regulation of the Russian stock market, but the legacy of the fraud led many to become extremely suspicious of any joint stock companies. In 2015 MMM began operating in South Africa with the same business model as MMM-2011, claiming a “30% per month” return through a “social financial network”.

The group was identified as a possible pyramid scheme by the National Consumer Commission and accounts of clients were later frozen by Capitec Bank. In response to mounting criticism and official investigations by state authorities in 2016 supporters of the South African MMM scheme staged a protest march in Johannesburg.

In 2016, MMM launched a website targeting the Nigerian audience.

In January 2016 the Chinese government banned MMM united on the grounds that it is a pyramid scheme, (Ponzi scheme), and it is not registered in the country (and as a fraudulent scheme cannot be registered).

[According to MMM Nigeria, www.nigeria-mmm.net] MMM is not a bank, MMM does not collect your money, MMM is not an online business, HYIP, investment

or MLM program. MMM is a community where people help each other. MMM gives you a technical platform which helps millions of participants worldwide to connect those who NEED help to those who are ready to PROVIDE help, for FREE. All transferred funds to another participant are your help given by your own good will to another one, absolutely gratis.

How does MMM Works?

When a participant provides help(donate), he/she directly send it to another participants account. And when you get help(receive donations), it will go directly to your account. There is no man and/or in middle account, where all the money flows to (and where it can be easily stolen from). All the money(donations) are distributed to all the participants in the community.

MMM office will only provide a technical basic program, which helps millions of participants worldwide to find those who NEED help and those who are ready to PROVIDE help for FREE. The System completely belongs to people. Without fools. It is a real mutual aid fund, where ordinary people help each other.

Participants transfer their donations through BITCOINS. It is a digital currency that has it’s own rates and can be transferred easily and quickly without hassles all over the world. To convert Bitcoins into cash, you just need to connect your bank account and transfer the Bitcoins in it.

The Pro’s And Con’s Of MMM Global Community

The Advantages of MMM Global Community


MMM Global Community is Free to join. There is nothing like paid or premium account. Becoming a member of MMM community is definitely free for everybody interested.

The mmm community is open to EVERYONE. For the rich, poor, young and adult.

A participant can get up to 100% more from his/her donations

You can also get a registration, referral and guide bonus to increase your money

The donations are delivered directly to the participants in the community, so there’s no reason and it’s impossible for MMM to Scam you.

The System of MMM will make it sure that all the donations of the participants are confirmed. It means that receipts of your donations will

be displayed in your account’s dashboard when you donate and same things happen when you received the donations from the other participants.

The Disadvantages or Dangers of MMM Global Community


No guarantee in mmm community

Too much risk is involved in this mmm program. So you have to be prepared because you will be sending some amount of money as donation directly to someone else account. Which you must do within 48 hours.

You can get merge with someone requesting for donation immediately if only you register with a reasonable amount of money.

Your account will be deactivated if you fail to send a certain amount of money to your matched mmm member within 48 hours

This is an online scheme. Anything can happen to their website anytime which will slow down or pause the whole thing. It can be hacked or start having issues that can render the website un-accessible.

Verdict


If you happen to be the type that can take a risk and also ready to double your money, you can give it a try. but if otherwise, I advise you against it.

MMM Ponzi Scheme (Dangers & Benefits)